New Reporting Regime For Insurance Brokers

The Argentine Tax Authority reduced the periodicity in which insurance companies should comply with existing information systems.

On August 16, 2012, several General Resolutions were published by the Argentine Tax Authority (("AFIP", for the Spanish acronym Administración Federal de Ingresos Públicos) in order to stop tax evasion practices. The main purpose is reducing the periodicity in which certain taxpayers should comply with existing information systems, turning them into monthly reports.

Previously, under General Resolution N° 1432/2003 ("GR 1432") the AFIP had created a reporting system for insurance companies regarding all fees and commissions paid to insurance brokers.